XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net earnings $ 303,790 $ 271,393
Loss (earnings) from discontinued operations 0 4,472
Gain (Loss) on Sale of Assets and Asset Impairment Charges 46,946 0
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 135,507 137,928
Share-based compensation expense 16,617 10,403
Other, net (5,373) (6,548)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net (63,228) (108,003)
Inventories (93,554) (85,340)
Prepaid expenses and other assets (23,359) (32,336)
Accounts payable (7,128) 64,592
Accrued compensation and employee benefits (50,246) (51,002)
Accrued expenses and other liabilities (20,915) (32,894)
Accrued and deferred taxes, net (5,824) 2,075
Net cash provided by operating activities 233,233 174,740
Investing Activities    
Additions to property, plant and equipment (91,092) (96,364)
Acquisitions, net of cash and cash equivalents acquired (215,304) (68,557)
Proceeds from sale of property, plant, and equipment 2,633 2,411
Proceeds from sale of businesses 24,218 2,069
Other (7,900) (13,762)
Net cash (used in) provided by investing activities (287,445) (174,203)
Financing Activities    
Cash received from Apergy, net of cash distributed 0 689,643
Repurchase of common stock, including prepayment under an accelerated share repurchase program 0 (744,977)
Change in commercial paper and notes payable 137,350 53,584
Dividends paid to stockholders (139,730) (142,322)
Payments to settle employee tax obligations on exercise of share-based awards (21,209) (21,202)
Repayments of long-term debt 0 (350,000)
Other (940) (1,563)
Net cash used in by financing activities (24,529) (516,837)
Cash Provided by (Used in) Operating Activities, Discontinued Operations 0 19,336
Cash Provided by (Used in) Investing Activities, Discontinued Operations 0 (23,705)
Net Cash Provided by (Used in) Discontinued Operations 0 (4,369)
Effect of Exchange Rate on Cash and Cash Equivalents 3,846 9,519
Net (decrease) increase in cash and cash equivalents (74,895) (511,150)
Cash and cash equivalents at beginning of period 396,221 753,964
Cash and cash equivalents at end of period $ 321,326 $ 242,814